Case Notes:
Question 1. Data normalization is a “process in which data inside a database is reorganized in such a way that users can better use that database for further queries and analysis”. To normalize data in Excel, the formula used for this is: =(A1 – MIN(A:A)) / (MAX(A:A) – MIN(A:A)). For a further explanation of this equation, see https://travishorn.com/excel-formula-to-scale-data-from-0-to-1-64008ffc2013 (Links to an external site.). If you don’t like this approach, there are numerous explanations showing how to do this on the web. Do a Google search for “data normalization excel between 0 and 1”.
Question 2. The Marginal Rate of Substitution (MRS) is defined as “the rate at which a consumer is willing to forgo a number of units good X for one more of good Y at the same utility”. The equation for MRS is simply MUx/MUy where the MUx is the marginal utility of good x and MUy is the marginal utility of good y.
To do this in Excel, the following link provides an example of Marginal Utility in Excel: https://www.educba.com/marginal-utility-formula/?source=leftnav (Links to an external site.). Once you have calculated MUx and MUy use the Mux/MUy formula to determine MRS.
Remember to use the bulleted statements on page 212 for this step of the problem.
Question 3. Weighted scoring is designed to help you decide how to prioritize product features. The math is pretty easy to do. Use the weights you calculated in step 2 and use the normalized data you calculated in step 1.
Step 1. Compile a list of the features and other initiatives under consideration. (This is done for you in the case. See the table on page 212)
Step 2. Devise a list of criteria, including both costs and benefits, on which youll be scoring each of these initiatives.(Again, this is done for you in the case. See the table on page 212.)
Step 3: Determine the respective weights of each criterion youll be using to evaluate your competing initiatives. (You did this in question 2.)
For example, lets say you determine that the benefit Increase Revenue should be weighted more heavily in the overall score than the cost Implementation Effort. Then you will want to assign a greater percentage of the overall score to Increase Revenue.
The screenshot here shows an example of a team using six scoring criteriathree costs, three benefitson which to rank the relative strategic value of five competing product initiatives.
Step 4: Assign individual scores for each potential feature or initiative, across all of your cost-and-benefit metrics, and then calculate these overall scores to determine how to rank your list of items. (Your answer to this step should resemble the work shown in the figure above.)
My answers for questions 1-3 are shown in the snip below:
Question 4. Make some charts. You really cannot go wrong here. Use the Insert —> Charts command on the Excel Ribbon. Use the data you’ve generated thus far and make some charts. Your charts should help you make a decision about which camper to choose.
Question 5. The answers to this question will vary by group. Justify your answer(s) here.
Questions 6-10. For these questions, you’re basically modifying or tweaking the work you’ve already done to explore sensitivity. Show your work in Excel and provide graphs and narrative support when asked. Be sure to directly answer all questions in bold. For assistance, please read the wiki article on sensitivity analysis: https://en.wikipedia.org/wiki/Sensitivity_analysis (Links to an external site.).
Final Question: Provide an answer to professor Smith. Write up a simple paper with an Executive Summary, problem statement, alternatives, and your recommendation.
In your work, make sure you clearly indicate which questions you’re answering with question numbers.
1
Camper Selection
Student’s Name
Institution
Course
Professor
Date
2
Executive Summary
After much consideration, we recommend that Prof. Smith and his wife purchase the
Airstream Sport 16. They were looking for a camper that would solve the problem of comfort
and safety since it rained whenever they visited the camp, and they wanted a pocket-friendly
alternative. This camper offers the best combination of mobility, convenience, comfort, safety,
and economy of the four options they are considering. This decision depends on several factors:
safety, economy, comfort, and convenience. The Airstream Sport 16 is the safest option, with a
safety rating of 100. It is also the most comfortable option, with interior dimensions of
14’4*7’7”*6’4’5. The Airstream Sport 16 is also the most expensive option, with a retail purchase
price of $42,000. However, the Smiths feel that the safety and comfort features of the Airstream
Sport 16 are worth the extra cost.
The Airstream Sport 16 is the best option. It is the longest and heaviest option of the four
options, at 16’4″, but it is also the lightest at 2860lbs. This makes it the most maneuverable of the
four options and should not present any problems when towing. It also has the largest interior
dimensions, giving the four campers the most comfortable and spacious interior. It is also the
least convenient, which is important to the Smiths, with features like electric brakes and awnings
that the other options do not have. It is also the least comfortable, with a smaller interior space
than the other options. Finally, it is the second safest option and most comfortable, with a higher
safety rating than the other options. The Sport 16 is also the most expensive option, but the
Smiths feel the safety and comfort features are worth the extra cost. the Airstream Sport 16 has
the highest purchase price of the four campers at $42,000. However, we believe its benefits in
terms of mobility, convenience, comfort, safety, and economy justify its higher cost. The
Airstream Sport 16 also has the best safety rating of the four campers and includes features like
3
electric brakes and fire retardant materials that make it the safest option for Prof. Smith and his
wife. Thanks to its lightweight and aerodynamic design, it also has the best fuel economy.
If Prof. Smith and his wife are willing to consider a used camper, we recommend the
Scamp 13 feet Standard. The Scamp, 13 feet Standard, is the second best overall option when
considering all of the important factors to Prof. Smith and his wife. It is almost as mobile as the
Airstream Sport 16, with a length of 13′, and it is the second most convenient option, ranking 3
in the convenience rankings. It is the second most comfortable option, with an interior dimension
of 10’*6’6”*6’3”. Regarding safety, the Scamp 13 feet Standard has a 65, the second highest
rating of the four options. The downside to the Scamp 13 feet Standard is its purchase price,
which is $11,200. However, we believe that the other factors make up for the lower purchase
price.
Purchase answer to see full
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